Borr Drilling shares fell after revenue declined and the company swung to a loss in its most-recent quarter.

The stock slid 8% to $3.93 in premarket trading on Wednesday. Through the prior close, shares were up 7% this year.

The oil and gas drilling company said revenue fell 13% to $232.3 million during the quarter ended June 30. That was below the mean analysts' estimate of $246 million.

The lower sales were mainly driven by a decline in dayrate revenues. Operating days in the Americas have also decreased in the past six months due to one rig following its sanction-related contract termination in November 2025.

Borr also swung to a second-quarter loss of $241.4 million, or 79 cents a share, from a profit of $35.1 million, or 14 cents a share, the year before.